CADCHF: Important Decision Ahead 🇨🇦🇨🇭

13 May 2021

CADCHF is testing a key daily level.

Depending on the reaction of the market to that I see two potential scenarios:

• To short with a confirmation, I will wait for a bearish breakout of a rising parallel channel.
  Once its support is broken, bearish continuation will be expected to 0.74 level.
  
• To buy with a confirmation, wait for a bullish breakout of a horizontal key level (daily candle close above).
  Once the underlined resistance is broken, bullish continuation will be expected to 0.76 level.
  

Taking into consideration that the market is trading in a long term bullish trend,
I remain bullish biased.

What do you think will happen?

14 May 2021

Not

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